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News From Press Withdraw automatic extension of policies: IRDAI to general insurers

Withdraw automatic extension of policies: IRDAI to general insurers

Source: Business Line Mar 20, 2019

The Insurance Regulatory and Development Authority of India (IRDAI) has asked all general insurers, other than standalone health insurers and specialised insurers, to withdraw the automatic extension option.

In a circular issued on Tuesday, the regulator said some insurers have been offering automatic extension of period clause.

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